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Income Tax Expense (Tables) | 12 Months Ended
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Dec. 31, 2024
Major components of tax expense (income) [abstract] |
Schedule of Income Tax Expense | Details of income tax expense for the years ended December 31, 2024, 2023 and 2022 are as follows:
| 2024 |  | 2023 |  | 2022
| (In millions of Korean won)
Current tax on profit for the year |  |  |  |  |
Current year | ₩ | 22,199 |  |  | ₩ | 37,459 |  |  | ₩ | 27,932 |
Deferred tax expense |  |  |  |  |
Change in net deferred tax assets | (754) |  |  | (742) |  |  | (1,108) |
Income tax expense | ₩ | 21,445 |  |  | ₩ | 36,717 |  |  | ₩ | 26,824 |
Summary of Differences Between Tax Expense and Amount Arise Using Statutory Tax Rate Applicable to Profits of Entities | The differences between the tax expense on the Group’s profit before tax and the amount that would arise using the statutory tax rate applicable to profits of the entities for the years ended December 31, 2024, 2023 and 2022 are as follows:
| 2024 |  | 2023 |  | 2022
| (In millions of Korean won)
Profit before income tax | ₩ | 106,347 |  |  | ₩ | 168,699 |  |  | ₩ | 109,882 |
Income tax using the statutory tax rate of each country | 19,749 |  |  | 31,300 |  |  | 23,951 |
Adjustments |  |  |  |  |
Expenses not deductible for tax purpose | 481 |  |  | 9 |  |  | 7 |
Non taxable income | (350) |  |  | (131) |  |  | — |
Withholding tax | 6,322 |  |  | 8,615 |  |  | 5,028 |
Utilization of previously unrecognized loss carried forward | (298) |  |  | (714) |  |  | (239) |
Tax credit | (1,413) |  |  | (1,174) |  |  | (2,131) |
Corporate tax on unappropriated earnings | 95 |  |  | (134) |  |  | 1,085 |
Changes in deferred tax liabilities related to investment in subsidiaries | (1,058) |  |  | (422) |  |  | (1,101) |
Others | (2,083) |  |  | (632) |  |  | 224 |
Total adjustments | 1,696 |  |  | 5,417 |  |  | 2,873 |
Income tax expense | ₩ | 21,445 |  |  | ₩ | 36,717 |  |  | ₩ | 26,824 |
Effective tax rate | 20 | % |  | 22 | % |  | 24 | %
Schedule of Changes in Deferred Income Tax Assets (Liabilities) | Details of the changes in deferred income tax assets (liabilities) for the years ended December 31, 2024 and 2023 are as follows:
| 2024
| Beginning balance |  | Increase (decrease) |  | Ending balance
| (In millions of Korean won)
Deferred income tax on temporary differences |  |  |  |  |
Property and equipment | ₩ | 51 |  |  | ₩ | 126 |  |  | ₩ | 177 |
Intangible assets | 665 |  |  | (582) |  |  | 83 |
Other non-current assets | 25 |  |  | (11) |  |  | 14 |
Accounts payables | 1,518 |  |  | 252 |  |  | 1,770 |
Accrued expenses | 282 |  |  | 29 |  |  | 311 |
Deferred revenue | 355 |  |  | (273) |  |  | 82 |
Allowance for doubtful account | 1,179 |  |  | (1,122) |  |  | 57 |
Other non-current liabilities | 82 |  |  | (4) |  |  | 78 |
Lease | (38) |  |  | 22 |  |  | (16) |
Investments in subsidiaries | (2,368) |  |  | 1,170 |  |  | (1,198) |
Others | 882 |  |  | (1,143) |  |  | (261) |
Sub Total | 2,633 |  |  | (1,536) |  |  | 1,097 |
Deferred tax due to carry-forward losses | 701 |  |  | 448 |  |  | 1,149 |
Deferred tax due to tax credit carry-forward | 236 |  |  | 1,842 |  |  | 2,078 |
Deferred tax assets (*) | 5,952 |  |  | (335) |  |  | 5,617 |
Deferred tax liabilities | ₩ | (2,382) |  |  | ₩ | 1,088 |  |  | ₩ | (1,294) |
| 2023
| Beginning balance |  | Increase (decrease) |  | Ending balance
| (In millions of Korean won)
Deferred income tax on temporary differences |  |  |  |  |
Property and equipment | ₩ | 38 |  |  | ₩ | 13 |  |  | ₩ | 51 |
Intangible assets | 442 |  |  | 223 |  |  | 665 |
Other non-current assets | 202 |  |  | (177) |  |  | 25 |
Accounts payables | 1,701 |  |  | (183) |  |  | 1,518 |
Accrued expenses | 233 |  |  | 49 |  |  | 282 |
Deferred revenue | 94 |  |  | 261 |  |  | 355 |
Allowance for doubtful account | 299 |  |  | 880 |  |  | 1,179 |
Other non-current liabilities | 81 |  |  | 1 |  |  | 82 |
Lease | (30) |  |  | (8) |  |  | (38) |
Investments in subsidiaries | (2,791) |  |  | 423 |  |  | (2,368) |
Others | (278) |  |  | 1,160 |  |  | 882 |
Sub Total | (9) |  |  | 2,642 |  |  | 2,633 |
Deferred tax due to carry-forward deficits | 759 |  |  | (58) |  |  | 701 |
Deferred tax due to tax credit carry-forward | 2,078 |  |  | (1,842) |  |  | 236 |
Deferred tax assets (*) | 5,660 |  |  | 292 |  |  | 5,952 |
Deferred tax liabilities | ₩ | (2,832) |  |  | ₩ | 450 |  |  | ₩ | (2,382) |
(*) The future realizability of deferred tax assets is reassessed by taking into consideration various factors such as the each entity's performance, the overall economic environment and industry outlook, expected future earnings and deductible period of tax credits carry-forward and carry-forward deficits. As of December 31, 2024 and 2023, the Group has recognized deferred tax assets related to temporary differences, tax loss carryforward and tax credit carryforwards, which can be utilized based on the likelihood of each entity's future taxable income. This amount may change if the estimate of future taxable income changes.
Schedule of Unused Tax Loss Carryforwards and Unused Tax Credit Carryforwards Not Recognized as Deferred Income Tax Assets | December 31, 2024 are as follows:
Year of expiration |  | Unused loss carryforwards |  | Unused tax credit carryforwards
2025 |  | ₩ | 1,421 |  |  | ₩ | 148 |
2026 |  | 2,002 |  |  | 175 |
2027 |  | 352 |  |  | 163 |
2028 |  | 2,135 |  |  | 520 |
2029 |  | 348 |  |  | 402 |
After 2029 |  | 9,571 |  |  | 986 |
Total |  | ₩ | 15,829 |  |  | ₩ | 2,394 |
Schedule Of Gross Deferred Tax Balances |
| December 31, 2024 |  | December 31, 2023
| (In millions of Korean won)
Deferred tax assets |  |  |
- Deferred tax assets to be recovered after more than 12 months | ₩ | 2,784 |  |  | ₩ | 1,601 |
- Deferred tax assets to be recovered within 12 months | 5,725 |  |  | 5,801 |
Sub-total | 8,509 |  |  | 7,402 |
Deferred tax liabilities |  |  |
- Deferred tax liabilities to be recovered after more than 12 months | (1,019) |  |  | (15) |
- Deferred tax liabilities to be recovered within 12 months | (3,167) |  |  | (3,817) |
Sub-total | (4,186) |  |  | (3,832) |
Deferred tax assets (liabilities), net | ₩ | 4,323 |  |  | ₩ | 3,570 |

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